Rental Kharma exploring strategic partnerships, moving to Cherry Creek

CEO and Co-Founder Cullen Canzanares formally started Rental Kharma with Bill Butler and Kevin Rusch in May 2012.

"We help renters report their on-time rental history," says Canzanares. Rental history has traditionally been excluded from credit reporting because it's "very decentralized," he adds. "There's never been a system that can handle it."

Until Rental Kharma, that is. The three-employee company has attracted 2,000 users through news stories and word of mouth, and now is discussing strategic partnerships with apartment companies and payment portals.

The idea originally emerged out of Startup Weekend Denver in Nov. 2011. "I got up and pitched Rental Kharma and it got a little traction," says Canzanares.

In summer 2012, the company was accepted into Jumpstart Foundry, an accelerator program in Nashville, where Canzanares and Rusch connected with Butler. "We came back to Colorado and Bill decided to move with us," says Canzanares.

Back on the Front Range, Canzanares struck an equity deal with Metzger in exchange for PR and marketing and launched the service in Feb. 2013.

The company is currently in the process moving from Thrive LoDo to Thrive Cherry Creek and expanding into commercial rental properties. "It opens up a new market for a product we've already built," says Canzanares. "Credit agencies have said they'd really like to get this rental-payment data."

Rental Karma is offering a prelaunch special of $49 a year for its commercial reporting service. As of Nov. 2013, the annual rate will be $149.

Contact Confluence Denver Innovation & Jobs News Editor Eric Peterson with tips and leads for future stories at eric@confluence-denver.com.